Conran narrows its losses

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Luxury designer and restaurant firm Terence Conran is facing better fortunes, despite reporting losses this year. The firm reduced losses to £806,000, far lower than the £8m reported in 2009. Conran Holding’s fortunes were revived after it launched a value range in its London shops. Chief executive Roger Mavity said that the new line attracts younger consumers to the stores. “So for example you can get very nice dining chairs for £80 or light fittings for £30,” Mavity said. The firm also expanded its London presence with a store on Marylebone High Street. Its flagship London store and restaurant are in Chelsea, and it has other stores in New York, Paris and Dublin.